Storm Eunice losses could top $500 million
21 February 2022
Insurance losses from Storm Eunice could be around £200-300 million, PwC UK has estimated after the wild weather tore across the country late last week...
International
Businesses warned against cyber complacency
21 February 2022
Freight transport insurer TT Club has urged businesses to take cyber threats more seriously after a report it co-produced with digital security firm Kaspersky revealed startling findings...
Solar projects threatened by costs, supply chains
21 February 2022
More than half of this year’s expected utility-scale solar projects could face delays or cancellations due to the rising cost of raw materials and supply chain constraints, risk management society RIMS says...
Axa, HSBC complete $741 million Singapore deal
14 February 2022
HSBC has completed its purchase of Singapore-based Axa Insurance Pte Ltd for $US529 million...
UK insurance professionals outline 2022 challenges
14 February 2022
Three out of 10 insurance professionals say gaining the right skills and knowledge to best serve customers is the biggest challenge they face in the year ahead, according to a survey by the UK’s Chartered Insurance Institute...
Zurich upbeat after delivering strongest earnings in years
14 February 2022
Zurich Insurance Group achieved its best earnings results in more than a decade, supported by its property and casualty business...
WTW says 'best is yet to come' after $12.6 billion revenue
14 February 2022
WTW posted a 4% rise in revenue to $US9 billion last year, and says the results don’t reflect the potential of the business and the “best is yet to come”...
Average UK motor policy cost drops 7%
14 February 2022
The average price paid by UK motorists for their motor insurance fell 7% to the lowest level in six years in 2021, according to the Association of British Insurers, though there are signs sustained cost pressures on insurers are starting to lift the cost of cover...
Extreme weather drives up natural catastrophe losses
07 February 2022
October’s hail storm in eastern Australian states and other major catastrophes globally led to $US116 billion in insured losses last year, the third highest since 2011, according to estimates from reinsurance broker Gallagher Re...
UK insurance 'failing' high-rise tower residents
07 February 2022
The UK Government has asked the Financial Conduct Authority to investigate the causes of surging premium increases faced by residents living in high and medium-rise blocks of flats...
'Incredible performance': Aon confident after $17 billion revenue
07 February 2022
Aon says it has confidence strong momentum will continue this year after its revenue jumped 10% to $US12.2 billion last year, including double-digit growth in Commercial Risk Solutions and Health Solutions...
Chubb turns in record earnings
07 February 2022
Chubb achieved record earnings in the fourth quarter, underpinned by strong commercial premium growth...
Talanx result tops milestone despite high claims
07 February 2022
Talanx Group annual earnings have topped €1 billion for the first time and ahead of forecast despite historically high net claims expenses, the insurer says...
Natural catastrophes cost insurers up to $185 billion
31 January 2022
The insurance industry absorbed losses of $US105-130 billion from natural disasters last year, according to calculations made by Aon, Swiss Re and Munich Re...
Reinsurance prices rise after tough negotiations
31 January 2022
Reinsurance prices have increased following a January renewals period that featured protracted negotiations and stronger gains for portfolios affected by losses...
Marsh McLennan sees 'mid-single-digit or better' 2022 sales growth
31 January 2022
Marsh McLennan has forecast underlying revenue growth of “mid-single-digit or better” this year as well as further margin expansion and solid earnings growth after a strong fourth quarter...
DXC tapped for Lloyd's technology overhaul
31 January 2022
Lloyd’s, DXC Technology and the International Underwriting Association have announced the signing of a multi-year agreement to transform the Lloyd’s and London market digital capabilities...
UK regulator keeping 'close eye' on renewal pricing reforms
31 January 2022
The Financial Conduct Authority says it’s keeping a close eye on insurers following the start of UK reforms banning renewal pricing increases that disadvantage loyal customers...
Action urged on expanding cover for hostile cyber activity
31 January 2022
Insurers will need to be proactive in exploring options for sharing cyber risks with governments as hostile activity increases the challenges of providing cover, the Geneva Association says...
Canopius promotes deputy CEO to top role
31 January 2022
Global specialty reinsurer Canopius Group has appointed Neil Robertson as Group CEO with immediate effect...